Corporate Governance

The term Corporate Governance refers to the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled within corporations.

Corporate governance is unique to every organization and ranges depending on factors such as corporate culture, history, size and complexity. However, there are some corporate governance standards that are helpful in formulating governance rules or practices in organisations across the board, including:

• management and board oversight: the board’s or management’s roles and responsibilities as well as the way in which their performance should be monitored and measured should be established
• a board should be structured to add value: Board composition, skill set, commitment and size should be appropriate for the organization
• ethics: the corporation ought to act ethically and responsibly
• corporate reporting: processes should be put in place to ensure that integrity in reporting is maintained
• risk management: risk management frameworks ought to be put in place and reviewed periodically to ensure effectiveness
• disclosure: balanced and timely disclosure to security holders
• directors remuneration and executive remuneration: remuneration should be sufficient to attract and retain a high quality of directors and designed to attract, retain and motivate high quality senior executives aligning their interests with the creation of value for security holders.

LGM Advisors Corporate Governance Lawyers in Melbourne provide services to businesses including start-up companies, social enterprises, proprietary companies, companies limited by guarantee and publicly listed companies on a range of corporate governance issues including:

• advice on director duties and insolvent trading
• advice on shareholders agreements and drafting shareholders agreements
• reviewing and drafting the company constitution
• preparing directors’ handbooks
• advice on conflict of interest situations
• risk management
• trade practices
• competition laws
• internal policies and procedures
• transparency in decision making

To speak to a Melbourne Corporate Governance Lawyer contact us on +61 3 9832 0608 or alternatively by email at marketing@lgmadvisors.com.au.